Perrigo (NYSE:PRGO) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Perrigo (NYSE:PRGO) from a buy rating to a hold rating in a research report released on Friday.

A number of other equities research analysts have also weighed in on PRGO. Jefferies Financial Group restated a “hold” rating and set a $30.00 price objective (down previously from $50.00) on shares of Perrigo in a research note on Monday, September 23rd. Canaccord Genuity Group reissued a “buy” rating and set a $42.00 price target on shares of Perrigo in a research report on Monday, September 30th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Perrigo Price Performance

PRGO stock opened at $25.95 on Friday. The firm has a market cap of $3.54 billion, a P/E ratio of -22.18 and a beta of 0.52. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. Perrigo has a 1 year low of $23.89 and a 1 year high of $34.60. The stock has a 50-day simple moving average of $26.82 and a 200-day simple moving average of $26.82.

Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.81 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.81. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.12 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. Perrigo’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the company earned $0.64 earnings per share. On average, equities analysts predict that Perrigo will post 2.56 earnings per share for the current fiscal year.

Perrigo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Friday, November 29th were given a $0.276 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.10 dividend on an annualized basis and a yield of 4.25%. Perrigo’s dividend payout ratio (DPR) is -94.02%.

Insider Buying and Selling at Perrigo

In other news, Director Jeffrey B. Kindler sold 17,598 shares of Perrigo stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $28.27, for a total value of $497,495.46. Following the transaction, the director now owns 5,409 shares of the company’s stock, valued at $152,912.43. The trade was a 76.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Perrigo

A number of hedge funds and other institutional investors have recently modified their holdings of PRGO. Voisard Asset Management Group Inc. boosted its stake in Perrigo by 9.7% in the 3rd quarter. Voisard Asset Management Group Inc. now owns 5,100 shares of the company’s stock worth $134,000 after purchasing an additional 450 shares during the period. Central Pacific Bank Trust Division boosted its position in shares of Perrigo by 33.3% in the fourth quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company’s stock worth $51,000 after buying an additional 500 shares during the period. Creative Planning grew its holdings in shares of Perrigo by 3.7% during the third quarter. Creative Planning now owns 18,477 shares of the company’s stock valued at $485,000 after buying an additional 661 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Perrigo by 1.9% during the second quarter. Arizona State Retirement System now owns 37,939 shares of the company’s stock valued at $974,000 after buying an additional 699 shares in the last quarter. Finally, KBC Group NV raised its position in Perrigo by 25.1% during the third quarter. KBC Group NV now owns 4,517 shares of the company’s stock valued at $118,000 after buying an additional 905 shares during the period. Institutional investors and hedge funds own 95.91% of the company’s stock.

About Perrigo

Perrigo Company plc provides over-the-counter health and wellness solutions to enhance individual well-being in the United States, Europe, and internationally. It operates through Consumer Self-Care Americas and Consumer Self-Care International segments. The company develops, manufactures, markets, and distributes self-care consumer products, such as upper respiratory products, including cough suppressants, expectorants, and sinus and allergy relief; nutrition products consisting of infant formulas and nutritional beverages; digestive health products, including antacids, anti-diarrheal, and anti-heartburn; pain and sleep-aids products comprising pain relievers and fever reducers; and oral care products, which include toothbrushes, toothbrush replacement heads, floss, flossers, whitening products, and toothbrush covers.